The funding is essentially a low-interest loan -- Nokia does not take an equity stake in the startups. It also does not transfer patents to them, although it has worked out special licensing agreements with some startups looking to produce defunct Nokia projects.

One example of such a license is Jolla, a startup formed by fleeing Nokia executives, which looks to reboot Meego. Nokia killed Meego when it opted to join ranks with Microsoft Corp.'s (MSFT) Windows Phone brigade, but Jolla is working to revive the property. (Intel Corp. (INTC), Nokia's co-partner on the Meego project has branched the project to a new tree under the name "Tizen".)

A startup founded by ex-Nokiaers, funded by Nokia loans, looks to give the original Meego OS new life. [Image Source: Mobile Phones]

It is somewhat unclear, though, whether Jolla has a full intellectual property rights (IPR) license, or merely is permitted to use Meego under some other contract (the software is, after all mostly GPL licensed, although some APIs are LGPL licensed).

Over a hundred startups have been launced. A few highlights, dug up by TechCrunch include:

A requirement is that the employees launch their projects in the EU, though a few -- like Decode Global -- have been allowed to launch their startups overseas.

Up to four individuals can pool their loans together to form a single company, with roughly $120K USD in loans. Nokia also is offering up to €50,000 ($61,300 USD) in follow-up financing to companies that show encouraging results.

Being laid off is never easy, but at least Nokia is giving hundreds of its employees an opportunity to make a bright future for themselves outside its corporate walls.

quote: Still, this is the sweetest thing a company did to its ex-employees.

idk. It sounds blah. The company is sinking and giving out loans. I would like to hear more about what the conditions of those loans are. How much interest? What's the payback period? What happens if the "company" defaults?

Then there's the fact that those loans aren't really for all that much. Sure, some money is better than nothing, but building hardware is expensive. If all they're looking at is software, than alright, but I'm not sure those loans would be enough to even pay for their salary, let alone to feed the company. All, in all, its a nice starter spot, but they still need other funding.

No one is forcing them to take the loan. Ever heard of buyer beware?!?!? They are all grown ass men, they will make their own decision. Don't think you are smarter than everyone else, because you are not.

Startup fails and/or succeed. That's what drives the economic engine and creativity. That's the way things work .... in the real world. You can't handle failure, go get a job like everyone else. Safe and secure ....

People who take their money to start an company aren't "idiotic saps". They are highly education/intelligent individuals who is willing to take a risk.

Where did I say anyone is forcing them to take the loan? I completely agree it is "buyer beware".

Not all startups are created equal though. Some start up on ideas that have no real chance at ever producing a marketable product that anyone would pay for.

If you paid attention to any of my posts, you'd know I am all about people taking risks to make money. And that has to be accompanied by the acceptance of the consequences and hardships that come with failure.

Unfortunately liberals like to teach that no one should ever have to deal with the consequences of their bad decisions and failures.

I think you view it wrong. Sure it may not be a ton of money but for a startup it can make a lot of difference, also consider if say 5 or 10 ex employees start something together then the money adds up.

I guess you've never tried Maemo/Meego more than a few minutes, if at all; otherwise you'd appreciate it more. It is more advanced than anything else.

Nearly a year ago, my Nokia N900 was stolen. A friend gave me a Samsung Galaxy SII to try it. 8 hours later, I decided to get another Nokia N900.

I bought a Samsung Galaxy Note nearly five months ago. I am using it as a tablet (I'm used to small screens as opposed to 7" or 10" screens), for reading, GPS and movies. I tried several times to use it as my primary smartphone. I couldn't stand android.

If you want, I can give you a list of things Android can't do but Maemo can. But I don't suppose you are interested in that, are you??